Wazirx Crypto Exchange Reached 1 Billion Users

In 2023, WazirX, a crypto exchange, reported an impressive addition of 600,000 new users, reaching a total of 1 billion users by November 30, as highlighted in their annual trading report. The platform's leading tokens encompassed Bitcoin, Shiba Inu, Ripple, Ethereum, and Polygon, with Shiba Inu and Bitcoin emerging as the top-performing assets.

Despite a less active market atmosphere, user engagement remained consistent, influenced by market sentiments shaped by fears, uncertainties, doubts, and social media impact.

The report detailed that Uttar Pradesh, Maharashtra, Tamil Nadu, Gujarat, and Haryana housed the highest number of traders, while Tamil Nadu, Uttar Pradesh, Maharashtra, West Bengal, and Haryana exhibited the highest trading volumes. Among WazirX's top tokens, the majority of traders fell within the 26-40 age group. Notably, women constituted 22% of the total trading volume, with the age range of 21-40 representing 83% of their total volume.

In contrast, men within the 21-40 age bracket represented 76% of the platform's male users. Looking ahead to 2024, the report foresees a transformative year in the crypto realm, attributing it to the convergence of central bank digital currencies, asset tokenization, enhanced Web3 experiences, and Bitcoin's halving, setting the stage for significant developments.